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If a person borrows $1000 at a simple interest rate of 6% per annum, how much in

Practice Questions

Q1
If a person borrows $1000 at a simple interest rate of 6% per annum, how much interest will he pay after 4 years?
  1. $240
  2. $260
  3. $280
  4. $300

Questions & Step-by-Step Solutions

If a person borrows $1000 at a simple interest rate of 6% per annum, how much interest will he pay after 4 years?
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